Fake Crypto Wallet Apps Slip Into Apple’s App Store, Target Users’ Funds

A new wave of malicious iOS applications has been uncovered on Apple’s App Store, disguising themselves as legitimate cryptocurrency wallets to steal users’ sensitive data. The campaign, identified by cybersecurity researchers at Kaspersky and dubbed FakeWallet, has reportedly been active since at least late 2025.

According to the findings, at least 26 fraudulent apps were distributed through the platform, impersonating popular crypto wallet services. These apps used cloned logos, familiar branding, and slight variations in names to appear authentic and rank in search results. Their primary goal was to trick users into entering their recovery phrases critical credentials that grant full access to cryptocurrency funds.

The campaign appears to have been particularly active in regions like the Chinese App Store, where restrictions on official crypto apps create a gap that malicious actors can exploit with convincing imitations.

Fake website impersonating Ledger
Source: Kaspersky

After being alerted, Apple removed several of the identified apps from the App Store. However, the company has not publicly commented on how the apps bypassed its review process or what additional measures may be taken to prevent similar incidents in the future.

The discovery highlights ongoing risks in the cryptocurrency space, especially for users who rely on mobile apps to manage digital assets. Experts advise downloading apps only from verified developers and remaining cautious of any application requesting sensitive recovery information.

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